How to Increase Your Home’s Value with Improvements
As people have spent more time at home, they have thought about ways to improve them. If you are thinking about selling your home, you are likely wondering how you can make the most out of your renovations. The good news is that some improvements can add more value to your home than others. Choosing them wisely will help you get your money back when it is time to sell.
Add a Home Elevator
Elevators make it much easier to transport people and items between levels. If you plan to age in place in your house, you could consider installing one. People in wheelchairs or with other mobility devices can more easily go upstairs or downstairs with an elevator. They can increase the value of your house, especially if the buyers in your area are older or tend to stay in the same house for many years. There are many beautiful home elevators to choose from, allowing you to increase value with a functional item.
Finish the Basement
Buyers who earn a higher income are often looking for homes that have usable basements, which could mean finishing yours. By completing the basement, you are adding more usable, climate-controlled square footage. Even if you have a lower-priced one, you can still add value by finishing the basement. You could find you get tens of thousands of dollars extra on the final price when it comes time to sell. Just try to keep the project’s cost down so you can get back as much as possible. You will need to have flooring, drywall, and other things installed, but you’ll often get a large percent of the cost back.
Changing Up the Floor Plan
By removing a few walls, you can have a more open floor plan in your home, allowing you to offer a more spacious home to potential buyers. Many buyers are looking for wholly or partially open layouts for the kitchen, dining room, and living room. That way, you can take advantage of the available natural light, making it look more inviting. An open floor plan also makes it look as though there is more space. Still, you’ll need to define the various areas, so you might want to get the help of an interior designer so you can make it work. If you do not somewhat define each space, buyers might not picture what they will do with space.
Upgrading the Exterior
You’ll want to enhance the curb appeal of the home whenever possible. The curb appeal means your home will make an impression with potential buyers the moment they drive up. One thing you can do is to make the landscaping more attractive, which makes your home look better maintained. Many times, updating the landscaping can make a sale more likely. Whether it is adding mulch, trimming your shrubs, or simply cutting the grass, you’ll get quite a bit back on your invested money.
Remember, the first impression is often a lasting one, so you want to make it count. Another way you can increase the curb appeal is to add some stone to the home’s exterior, especially if you currently have siding on the building. By adding a bit of rock, you can make the house look more inviting and upscale. You have a range of styles and textures to choose from, so you can get something that perfectly matches your home’s aesthetic.
Upgrades That Focus on Specific Rooms
Potential buyers also pay attention to the bathrooms and kitchens to determine if they will need to change up anything. While it is essential to have attractive ones, you also need to keep the costs down to prevent a complete remodel since these also do not have a great return on the investments. Instead, consider making them more functional and appear updated. For example, you could switch up the fixtures in the bathrooms and kitchens.
That includes faucets and cabinet and drawer handles. When you get matching ones, you can make the home look more pulled together and cohesive. It is also a relatively inexpensive upgrade. The trends can change quickly, but you could go for rubbed bronze or stainless steel, matte-style.
It’s crucial to do minor updates like these instead of going for something bigger. A minor remodel might only be a few thousand dollars, and you can often get much of that back when it comes time to sell. On the other hand, doing a major remodel might not get you that much money back. You could consider updating the fronts of your cabinets while leaving the rest in place. Then they will look updated, but you will save money on upgrades.
Even doing an average bathroom can get you a large percent back on the resale cost. However, an entire bathroom remodel may only get you a smaller percent back. So, it is often best to avoid the more expensive upgrades, like heated towel racks or heated floors. Instead, consider replacing the tile and fixtures.
Using the Right Paint Colors
Consider adding neutral, light colors around the interior. These make great tones for resale since your buyers can think of their items in your space. It can flow with the surroundings better and prevent you from having to change up the entire building. By combining the right lighter neutrals, you can avoid the home from looking bland.
You could also have an interior designer help you choose the right shades. However, you might want to go with lighter colors since they can add more style and freshness. Look for grays with blues or beige undertones, which can all help your space feel more open. If the walls already have neutrals, consider painting the windows, molding, and trim using glossy paint. The change is drastic, and it does not cost a lot to do so. You could even consider adding black trim to your white walls if you want to go for more of an upscale look while on a budget.
Thank you for reading!